Foreign exchange operations can be sterilized (have their effect on the money supply negated via other financial transactions) or unsterilized. FAS 157 does not distinguish between non cash-generating assets, i.e., broken equipment, which can theoretically have zero value if nobody will buy them in the market – and cash-generating assets, like securities, which are still... Continue Reading

On the state level, you can claim allowances for Illinois state income taxes on Form IL-W-4. Your employer will withhold money from each of your paychecks to go toward your Illinois state income taxes. See the  Illinois Department of Revenue Income Tax Credit and Expiration list for information about income tax credits. The general merchandise sales tax... Continue Reading

The cash flow statement also helps identify trends and patterns in cash flow generation or utilization over time. It enables stakeholders to evaluate changes in working capital, the impact of investing activities on cash flows, and the company’s financing activities in terms of debt and equity. Overall, the statement of retained earnings provides stakeholders with... Continue Reading